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Treasury prices were little changed Wednesday after the government raised $35 billion in a sale of five-year notes.

The Treasury Department auctioned the notes at a yield of 0.75 percent. Demand was weaker than in recent auctions. Bond buyers placed $2.61 in bids for every dollar up for sale. That's below the average of $2.98 over the past six months.

The sale of five-year notes was the second of three auctions this week, which are expected to raise a total of $99 billion. The next one is a $29 billion sale of seven-year notes Thursday.

In Treasury trading, the price of the 10-year Treasury note slipped 6.25 cents for every $100 invested. Its yield ended the trading day at 1.63 percent, the same as late Tuesday.

The price of the 30-year bond inched up 25 cents, and its yield slipped to 2.69 percent from 2.70 percent. The yield on the two-year note dipped to 0.31 percent from 0.32 percent.

In the market for short-term bills, the three-month T-bill held steady at 0.09 percent.